Chakana Copper Corp. Stock Forecast

Is Chakana Copper Corp. stock still a buy after falling -9.52% on Friday?
(Updated on May 17, 2024)

PERU.V Signals & Forecast

There are few to no technical positive signals at the moment. The Chakana Copper Corp. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.103 and $0.112. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 10, 2024, and so far it has fallen -29.63%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Chakana Copper Corp. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Chakana Copper Corp. stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.0900 and $0.0800. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Chakana Copper Corp. finds support just below today's level at $0.0900. If this is broken, then the next support from accumulated volume will be at $0.0800 and $0.0750.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0050 between high and low, or 5.26%. For the last week, the stock has had daily average volatility of 6.16%.

Our recommended stop-loss: $0.0899 (-5.34%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 27 days ago.)

Trading Expectations (PERU.V) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect Chakana Copper Corp. to open at $0.0967, and during the day (based on 14 day Average True Range), to move between $0.0866 and $0.103, which gives a possible trading interval of +/-$0.0084 (+/-8.88%) up or down from last closing price. If Chakana Copper Corp. takes out the full calculated possible swing range there will be an estimated 17.76% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.100 (5.26%) than the support at $0.0900 (5.26%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Chakana Copper Corp. stock A Buy?

Chakana Copper Corp. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Upgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Chakana Copper Corp. of Tuesday, May 21, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.